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Delta Air Lines Inc. bought 49% stake in Virgin Atlantic.
(Image credit: Christopher Furlong/Getty Images)

1. DELTA BUYS STAKE IN VIRGIN ATLANTIC

Delta Air Lines said Tuesday that it was buying Singapore Airlines' 49 percent in Virgin Atlantic for $360 million in a deal that is expected to boost its share of the lucrative New York to London route. Virgin founder Sir Richard Branson will hold onto the remaining 51 percent of his company and retain control. The companies plan to launch a trans-Atlantic joint venture that, if approved by regulators in the U.S. and Europe, will give Delta access to hard-to-get landing slots at London's Heathrow airport, a hub for coveted corporate travelers. The airlines will continue to fly under their old names, but share revenue from their trans-Atlantic flights. Singapore Airlines bought its stake in Virgin 12 years ago for a far heftier price, but the investment proved disappointing. [Reuters]

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